Collections (General Functionality) Features and Functions
Some accounting systems are offering users more sophisticated collections applications that make the process more efficient and effective.
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- Specific debt collection program
- Ignores cash flow pending resolution
- Aging schedule based upon actual date
- Aging schedule sorted by collections representative
- Aging schedule mirrors payment terms
- User defined aging criteria
- Summary aging report
- Detailed aging report
- Screen display of customer account
- Screen display of customer overdue accounts
- Print range of customer accounts
- Statement displays A/R balance
- Print statements only for overdue accounts
- Non-print statement if below threshold
- Aged receivables sorted by age
- Statement messages
- Holds invoices which are in dispute
- Reprint posted invoices
- Special dispute resolution tracking system
- Credit exception reporting and analysis
- Multiple page statements
- User defined statement cycle
- Automatic calculation of finance charges
- Automatic calculation of late fees
- User override of finance/late charges
- Compounding of finance charges
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Debt Collection Features and Functions
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